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U.S. stocks are set to open higher Friday morning, reversing a two-day losing streak after Thursday stocks fell on an unexpected drop in sales of existing homes. More housing data is due out this morning, as well as durable goods orders data. Meanwhile, the G-20 meeting is set to discuss President Obama's plan to replace the G-8 with the G-20.

Also in focus this morning are Research In Motion (RIMM)'s disappointing earnings reported late Thursday and Unilever's (UL) $1.88 billion offer for the global body care unit of Sara Lee (SLE).